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Blackstone in talks to buy stake in Energy Transfer assets-WSJ
December 22, 2016 / 6:41 PM / 9 months ago

Blackstone in talks to buy stake in Energy Transfer assets-WSJ

Dec 22 (Reuters) - Private-equity firm Blackstone Group LP is in talks to buy a stake in assets owned by Energy Transfer Partners LP, the company building the controversial Dakota Access pipeline, the Wall Street Journal reported.

Blackstone is discussing joining the deal with Energy Transfer’s former chief financial officer, Jamie Welch, the paper reported, citing people familiar with the matter.

The deal is expected to be valued at about $5 billion or more, the report said. on.wsj.com/2igghT7

Blackstone and Energy Transfer Partners did not immediately respond to requests for comment.

The Dakota Access pipeline has been the subject of protests for months because its route runs adjacent to Native American land in North Dakota.

Pipeline companies Sunoco Logistics Partners LP and Energy Transfer Partners, both controlled by general partner Energy Transfer Equity LP, said last month they would combine in a corporate consolidation. (Reporting by Divya Grover in Bengaluru; Editing by Shounak Dasgupta)

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